The Perils of Fake Social Media Profiles – A Growing Governance, Risk and Compliance Concern

I’m finishing researching, writing and editing my next Fraud Flashpoints column for Corporate Compliance Insights. The topic is hot – fake social media profiles!

It’s interesting how much discussion there is amongst global security experts concerning the medium’s incredible vulnerabilities (which there are many), yet few are talking about fraud prevention, best user information practices and solutions in the corporate setting, something that is necessary given the significant usage.

Some of the key corporate risks involve misuse of the application in legitimate business processes, corporate intelligence, industrial espionage and process deficiencies which expose regulatory concerns and potential liability.

Despite significant business risks and exposure, the absence of governance, risk and compliance involvement is telling as evidenced by the low number of companies with social medial policies (estimated to be less than 30% globally). dialog about the issue and policies, procedures and training for corporate employees. What safeguards have you taken to protect your company’s information and assets?

Read more about this and other key issues in the next issue of Fraud Flashpoints.